If the transaction at the time valued Supercell, which is behind hit games like Hay Day and Clash Of Clans, at more than $3 billion, then what is to make of this?
It was one of the largest European tech acquisitions of the year, and its repercussions are still being felt in Helsinki (and London, where it had a lot of investors): SoftBank’s November 2013 acquisition of a 51% stake in mobile game studio Supercell for $1.5 billion.
If the transaction at the time valued Supercell, which is behind hit games like Hay Day and Clash Of Clans, at more than $3 billion, then what to make of this: SoftBank has just agreed with existing backers to acquire a further interest in Supercell, upping it stake to 73.2% on a fully-diluted basis.
More specifically, SoftBank bought an additional 22.7% holding in Supercell by purchasing stock held by existing external investors. The deal was closed last week. Supercell will continue to operate independently, it says, and co-founder Ilkka Paananen will continue to serve as CEO.
Update: This is a comment from Accel Partners, which was the first institutional venture investor in Supercell, financing the company in May 2011 with $11 million when it was still pre-game and pre-revenue, and has now sold its remaining stake to SoftBank.
Accel Partners’ Kevin Comolli, who led the firm’s investment in Supercell and sat on its board, says, “Congratulations to Supercell and SoftBank on deepening their thriving partnership! It’s been fantastic to see Supercell’s growth and success from pre-game through to pioneering the ‘mobile-first’ gaming category.
“From the beginning, we were impressed by the team’s clarity of thought, sense of purpose and creative process, and I am very proud of their achievements. We had complete conviction that they would create the next-generation gaming company and believed that well-capitalising Supercell at an early stage would empower it to control its own destiny and take risks.”
This post was originally published on Tech.eu.
Featured Image Credit: Supercell